Market should not go lower than 2.1050 - 2.0895. After this move down it should go up to 2.1290 - 2.1375 area.

Technical Forecast

  • Elliott Wave

    extended impulse wave down 2.0899

  • Trend Warning

    Warning: Engulfing pattern

Key Points

  • Key Point2.0858
  • Entry Point2.1186
  • Trendline 12.1340
  • Trendline 22.1340
  • Elliott2.1514
  • Closing2.1066
  • Ex-Low2.1034
  • Ex-High2.1514
  • Projection2.0899

Supports and Resistance levels

  • Support 12.0895
  • Support 22.0725
  • Resistance 12.1375
  • Resistance 22.1685
  • Pivot2.1205

Prefer a fall to below 2.1200. Then a correction to above 2.1723 is anticipated. A clear break of 2.1061 is again bearish.

Technical Forecast

  • Elliott Wave

    flat correction down 2.1186

Key Points

  • Key Point2.1263
  • Entry Point2.1331
  • Trendline 12.1583
  • Trendline 22.1320
  • Elliott2.1846
  • Closing2.1340
  • Ex-Low2.1252
  • Ex-High2.1583
  • Projection2.1186

Supports and Resistance levels

  • Support 12.1200
  • Support 22.1061
  • Resistance 12.1531
  • Resistance 22.1723
  • Pivot2.1392

One more dip to 2.1338 - 2.0894 is likely followed by a grind higher to 2.2080 - 2.2377. After which it can resume its downtrend.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point2.1052
  • Entry Point2.1879
  • Trendline 12.2691
  • Trendline 22.2286
  • Elliott2.4968
  • Closing2.1490
  • Ex-Low2.1186
  • Ex-High2.2669
  • Projection1.9786

Supports and Resistance levels

  • Support 12.0894
  • Support 22.0299
  • Resistance 12.2377
  • Resistance 22.3265
  • Pivot2.1782